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Economy

World's central banks still cool on yuan

Chinese currency accounts for only 0.9% of foreign currency reserves

The headquarters of the People's Bank of China in Beijing

TOKYO -- Central banks around the world are not loading up on the yuan despite the currency being added to the International Monetary Fund's basket of elite currencies. Experts think central banks are still wary of the Chinese currency's future value.

Latest data from the IMF showed that the world's central banks reported holding $82 billion worth of yuan, also known as the renminbi, as of March 2017. This equaled only 0.9% of the $8.8 trillion of disclosed foreign reserves holdings.

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